Live market updates

19th Jul, 2021

Tatva Chintan Pharma Chem's IPO oversubscribed 15.03 times on Day 2

Published on: 5:16 pm

  • Tatva Chintan Pharma Chem's IPO received an enthusiastic response which was subscribed to nearly 15.03 times on day 2 itself.
  • The retail portion of the public offering was subscribed 23.72 times. The qualified Institutional Buyers (QIBs) portion was subscribed 1.97 times while the portion reserved for non-institutional investors subscribed 12.21 times.
  • The price band of the IPO is fixed at Rs1073-1083 per share. An investor can bid for a minimum of 13 shares and in multiples thereof. Read more

DEN Networks stock ends lower post Q1 numbers

Published on: 5:08 pm

  • Shares of DEN Networks ended lower by nearly 3% after reporting Q1 numbers. The company reported 0.55% flat growth in total revenues for the Jun-21 quarter on a consolidated basis at Rs302.97cr.
  • On a sequential basis, the revenues were down -7.13% compared to Rs326.23cr revenues reported in the Mar-21 quarter.
  • The company is engaged in the television and internet cable business and its business was impacted in the Jun-21 quarter by the combination of weak demand caused by the lockdown as well as the income effect. The company has been facing tough competition in the market from digital. Read More

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Kirloskar Electric seeks further extension for partial lay-off period of 38 workmen at Govenahalli

Published on: 4:59 pm

  • Kirloskar Electric Limited has made an application to the concerned labour department to extend the partial lay-off period of 38 workmen out of 152 workmen of the Company’s Unit located at Govenahalli from July 20, 2021, to September 19, 2021.
  • Many workmen at the Govenahalli unit are under suspension since June 15, 2020, as a temporary arrangement due to the Covid-19 impact and have sought many extensions from the concerned labour department thereafter.
  • The company had also laid off its workmen at the Hirehalli, Tumkur and Budihyal plants from June 12, 2020.
  • Kirloskar Electric Company Ltd ended at Rs21.90 per piece up by Rs1 or 4.78% from its previous closing of Rs20.90 per piece on the BSE. Read more

Rossari Biotech to acquire Tristar Intermediates; stock ends ~8% higher

Published on: 4:53 pm

  • Rossari Biotech Limited announced that its Board of Directors has approved the acquisition of  Tristar Intermediates Pvt. Ltd. (Tristar Intermediates, company).
  • As per the agreement and  subject to customary closing conditions, Rossari will be acquiring 100% of the equity share  capital of Tristar Intermediates. 76% of the equity share capital will be acquired upon closure  of the transaction, and the balance 24% over the next 3 years.
  • The total enterprise value of  the transaction is Rs120cr. Rossari plans to fund the investment through cash on  balance sheet and doesn’t intend to raise any debt for this acquisition. Read More

EaseMyTrip offers free full-refund medical policy on all domestic air-tickets

Published on: 4:45 pm

  • Easy Trip Planners (EaseMyTrip), one of India’s leading online travel agencies has announced the launch of an industry-first, free of charge, full refund medical policy through which customers can claim a complete refund on domestic air ticket cancellations caused due to medical emergencies.
  • As a part of this policy, customers will get a complete refund including the money deducted by airlines and there will be no additional charges for this service.
  • With rising uncertainties in the current period, this unique free of charge refund policy provides confidence to travelers as it eliminates the risk of losing money in case of a booking cancellation due to a medical emergency. Read more

Tata Steel Mining and Jindal Stainless partner for mining of common boundary in Sukinda

Published on: 4:45 pm

  • Tata Steel Mining Limited (TSML) and Jindal Stainless Limited (JSL) signed an MoU on July 16, 2021, to jointly unearth the Chrome Ore locked up in the boundary between their mines located in Sukinda of Jajpur district, Odisha. This would help the conservation of chromite ore which otherwise would have been left unmined forever.
  • The company said in a filing on Monday that this unique partnership sets an example for Sustainable Chrome Ore Mining in an innovative manner. This is a win-win-win partnership for the State of Odisha, TSML, and JSL. Both the companies would now initiate steps to get necessary statutory approvals from concerned authorities before jointly starting mining operations. Read More

Ind-Ra upgrades Jindal Stainless long-term credit rating to 'IND A+'; stock ends higher

Published on: 4:44 pm

  • India Ratings and Research (Ind-Ra) has upgraded Jindal Stainless Limited’s (JSL) long-term credit rating to ‘IND A+’ which is three levels up from their earlier rating of ‘IND BBB+’. The short-term credit rating of the company has also been upgraded to ‘IND A1+’.
  • The key reasons for the upgrade include accelerated deleveraging, supported by the prepayments of debt, which was originally scheduled to be repaid over FY22-FY23, in FY21 along with a strong operating performance. The rating also factors in the benefit of proposed amalgamation, coupled with strong group linkages considering the same line of business along with strong operational, strategic, and financial linkages. Read More

CRISIL reaffirms 'CRISIL AAA/Stable/CRISIL A1+' ratings on bank facilities of Titan

Published on: 4:36 pm

  • CRISIL Ratings on Friday has reaffirmed its 'CRISIL AAA/Stable/CRISIL A1+' ratings on the bank facilities of Titan Company Limited (Titan).
  • CRISIL Ratings expects Titan’s top-line to grow by 7-10% in fiscal 2022, while operating margin is expected to improve to 9-10% (adjusted for leases), driven by expectation of a healthy product mix in the jewellery segment, stronger performance in the watch segment and continued benefits of cost optimisation measures implemented by the company in the last fiscal. 
  • In the first quarter of fiscal 2022, Titan reported strong revenue growth of 117% (excluding sales from bullion), on account of lower base. Read More

Fineotex Chemical hit new record high on forming JV with Australia's HealthGuard

Published on: 4:30 pm

  • Fineotex Chemical Limited on Monday hits 52-week high at Rs102 per share after it has entered into a joint venture with HealthGuard Australia to become the exclusive global marketing and sales Channel Partner with joint operations from Malaysia.
  • With this tie-up, Fineotex will add to its portfolio the much-required metal-free safety for its customers around the world with all the required global certifications.
  • HealthGuard will concentrate on developing cutting-edge solutions, that will be marketed and channelized across the world by Fineotex-Biotex, its exclusive channel partner for the entire range of products over several industries like textile, detergent, leather and allied industries. Read More

European markets slip nearly 2%; US futures down

Published on: 4:22 pm

  • European stock markets slipped in the early trade on Monday led by the travel and energy sectors. Germany’s DAX is down 1.98%, while France’s CAC has lost 1.99% and Italy’s FTSE MIB has shed 1.96%.
  • The pan-European Stoxx 600 trading lower as all sectoral indices in the red zone.
  • The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.275% and the yield on the 30-year Treasury bond dipped 2 basis points to 1.905%. Read more

HDFC Life Insurance gross and net claims in Q1 amounted to Rs1,598cr and Rs956cr respectively

Published on: 4:21 pm

  • HDFC Life Insurance Company Limited informed the exchanges Monday about the impact of the COVID-19 pandemic on the business. The company said, while the economic restrictions in the second wave were fewer and more localized as compared to the first wave, the health impact was a lot more devastating, across the country.
  • The company recorded a 22% growth and a market share of 17.8% in terms of Individual WRP in Q1FY22. Given that the trends have varied by region and the possibility of future waves cannot be ruled out, we will continue to be more segmented and localized in our approach, taking one quarter at a time.
  • In the quarter gone by, the company witnessed a steep rise in death claims with peak claims in wave 2 at around 3-4 times of the peak claim volumes in first wave. Read more

Add-Shop E-Retail establishes new manufacturing plant for agriculture and animal food supplement pro

Published on: 4:08 pm

  • Add-Shop E-Retail Ltd has announced about the Establishment of their new plant for manufacturing of the agriculture and animal food supplements products. The Company has planted a new machineries with the capacity of produced 30 million tons per annum.
  • This machinery was newly developed by the Ganesh Pharma Tech. It was highly automated plant with huge capacity with best in quality. It helps company to grow its business worldwide.
  • "With this new plant establishment, we now developed new products in Agriculture and Animal Food Supplements", said company in a filing. Read more

Just Dial stock ends lower after net loss of Rs3.52cr in Q1

Published on: 4:04 pm

  • Shares of Just Dial was under pressure on Monday’s trading session after the company reported a net loss of Rs3.52cr in Q1. This loss was largely on account of Rs71cr other expenses which included Rs51cr towards promotion expenses for the B2B marketplace of Just Dial, JD Mart.
  • Just Dial reported a -21.37% fall in total revenues for the Jun-21 quarter on a consolidated basis at Rs188.20cr. On a sequential basis, the revenues were down -1.59% compared to Rs191.25cr revenues reported in the Mar-21 quarter. Read more

Aaron Industries announces launch of new product

Published on: 4:03 pm

  • Aaron Industries Limited announced the launch of its new product i.e. Stainless Steel Press Plate for High-Pressure Laminate (HPL) on July 17, 2021, for the domestic market.
  • The company stock trade ended at Rs120.00 per piece down Rs1.85 or 1.52% on the NSE. It opened lower at Rs116.15 per piece and touched a low of Rs115.80 per piece and a high of Rs122 per piece.
  • On Monday, the company stock had hit a 52-week high of Rs124.75 per piece. Read More

TCS recognized as leader in IDC MarketScape for Asia-Pacific Cloud Security Services

Published on: 3:47 pm

  • Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions organization, has been positioned as a Leader in the IDC MarketScape for Asia/Pacific Cloud Security Services.
  • .According to the report, “TCS has one of the most comprehensive cloud security portfolios in the market, addressing the entire lifecycle stages of cloud adoption.” It goes on to say, “Having worked with clients from various industries and sectors, TCS is able to bring what it considers ‘contextual knowledge’ to develop product and service packages that fit clients' needs in the region.”
  • “The speed of evolution of cyber threats in the cloud ecosystem is increasingly seen as the biggest risk to enterprises. TCS’ innovative and responsive suite of services and solutions helps enterprises secure their cloud-led transformations and become cyber resilient,” said Santha Subramoni, Global Head, Cyber Security, TCS. “Our positioning as a Leader is a reflection of our vision and strategy, capabilities,strong focus on delivering purpose-driven solutions and the resultant market impact.” Read More

Godawari Power ends 5% up on CECB nod for enhancing capacity of iron ore plant

Published on: 3:41 pm

  • Godawari Power & Ispat Ltd has informed that the Chhattisgarh Environment Conservation Board (CECB), Raipur has accorded its "Consent to Operate" for the ehanced eapacity of Iron Ore Beneficiation Plant from 10,00,000 Tons Per Annum to 32,84,000 Tons Per Annum.
  • The operations of the said beneficiation plant with the enhanced capacity are expected to be, commenced within a week's time from now.
  • Godawari Power & Ispat ended at Rs1,483.25 apiece up by Rs70.6 or 5% from its previous closing of Rs1,412.65 on the BSE. Read more

L&T Finance Holdings consolidated net profit at Rs177.85cr; stock tumbles ~4.5%

Published on: 3:25 pm

  • Shares of L&T Finance Holdings slumped over 4.59% on the BSE in the last hour of the trading session. The company reported 7.29% lower operating revenues for the Jun-21 quarter on a consolidated basis at Rs3,140.12cr. On a sequential basis, the revenues were down 8.05% compared to Rs3,415.16cr revenues reported in the Mar-21 quarter.
  • This sharp spike in revenues was on account of solid yoy growth in the rural finance portfolio. However, the other fund-based businesses like housing finance and infrastructure finance saw lower revenues yoy on the back of lower interest rates. COVID 2.0 also had an impact on QoQ. Read More

Mahindra offers inspection and replacement of diesel engines in some of its vehicles manufactured at

Published on: 3:21 pm

  • Mahindra & Mahindra Ltd. (M&M), one of the leading automobile companies in India and the world’s largest tractor company by volume, announced proactive inspection and replacement of diesel engines in some of its vehicles manufactured at Nashik factory for suspicion of premature wear of engine parts due to contaminated fuel that was received in the factory on a particular date and was filled in the select batch.
  • The company said in a filing on Monday that this is a limited batch of fewer than 600 vehicles manufactured between June 21 to July 2, 2021, and is keeping in line with the company’s customer centric approach. Read more

Reliance Commercial Finance lenders approve debt-resolution plan; Stock gains

Published on: 3:15 pm

  • The Board of Directors of Reliance Commercial Finance Limited (RCF) took note of the resolution plan approved by the Lenders forming part of the Inter-Creditor Agreement (ICA Lenders) under RBI’s Prudential Framework for Resolution of Stressed Assets, Directions dated 7th June 2019 (“RBI Directions”).
  • RCF is a wholly-owned subsidiary of Reliance Capital Limited.
  • Lenders selected Authum Investment and Infrastructure Limited (Authum) as the successful Bidder to acquire the Company and/or all its’ assets through a competitive bidding process after several rounds of negotiations between the bidders and the Lenders. Read More

Markets closed lower; Banking stocks underperformed

Published on: 3:10 pm

  • Domestic markets witnessed a big sell-off as the major indices traded with a negative bias throughout the day. Bank Nifty underperformed the Nifty index by ~0.7% for the second consecutive trading session, with both the indices closing around intraday lows, down ~2%/1.2% respectively.
  • Midcap stocks continued to outperform with stocks like BSE, Crisil & IBRealestate closing with  ~10% gains. Nifty Midcap 100 index closed ~0.75% lower.
  • Market breadth ended in the favour of the declines with the advance/decline ratio closing at 1:1x. Bank Nifty saw an unwinding of long positions during the day. Read More

Reliance Retail acquires controlling stake in Just Dial for a total consideration of Rs3,497cr

Published on: 2:50 pm

  • Reliance Industries (RIL) has announced that its retail arm Reliance Retail Ventures Limited (RRVL) will acquire controlling stake in Just Dial for Rs3,497cr.
  • As per filing, Reliance Retail Ventures Limited (RRVL), Just Dial and VSS Mani & others, on Friday executed definitive agreements which will entail:
  • a) Preferential allotment of 2.12 crore equity shares (equivalent to 25.33% post preferential share capital) at price per share of Rs1,022.25 Read More

Reliance Retail acquires controlling stake in Just Dial for a total consideration of Rs3,497cr

Published on: 2:50 pm

  • Reliance Industries (RIL) has announced that its retail arm Reliance Retail Ventures Limited (RRVL) will acquire controlling stake in Just Dial for Rs3,497cr.
  • As per filing, Reliance Retail Ventures Limited (RRVL), Just Dial and VSS Mani & others, on Friday executed definitive agreements which will entail:
  • a) Preferential allotment of 2.12 crore equity shares (equivalent to 25.33% post preferential share capital) at price per share of Rs1,022.25 Read More

L&T-led construction arm secures major contracts; Stock sheds 1%

Published on: 2:45 pm

  • Larsen & Toubro- led construction arm has won a slew of orders in India and abroad for its various businesses.
  • Power Transmission & Distribution:
  • The Power Transmission a Distribution Business has won an order to construct a 220kV Transmission Line associated with system strengthening in the Ladakh region. The design and execution of this system involves traversing avalanche prone, hilly terrains and ice loading of conductors. Read More

HDFC Bank drops over 3% on weak Q1 numbers; Gross NPAs rise sharply

Published on: 2:39 pm

  • Shares of HDFC Bank under pressure after the bank reported June quarter earnings below street estimates.
  • HDFC Bank consolidated net profit for the quarter ended June 30, 2021, was Rs7,922cr, up 14.4%, over the quarter ended June 30, 2020. Consolidated advances grew by 13.7% from Rs1,053,683cr as on June 30, 2020 to Rs11,97,876cr as on June 30, 2021.
  • Provisions and contingencies for the quarter ended June 30, 2021, were Rs4,830.8cr (consisting of specific loan loss provisions of Rs4,219.7cr and general and other provisions of Rs611.1cr) as against Rs3,891.5cr (consisting of specific loan loss provisions of Rs2,739.8cr and general and other provisions of Rs1,151.7cr) for the quarter ended June 30, 2020. Total provisions for the current quarter included contingent provisions of approximately Rs600cr, HDFC Bank said. Read more

Market pulse at 2:30 PM today

Published on: 2:30 pm

  • Indices decline 1.2% as banking, metal, and auto stocks drag. 
  • BSE Sensex is currently 52,577.41 down 562.65 points or 1.06%.
  • Nifty50 is currently 52,482.11 down 657.95 points or 1.24%. Nifty Bank is trading down 2.04% at 35,021.15 while Mid-cap Index is down by 1.15%.
  • BPCL, Divis Lab, NTPC, Tata Consumer, and Nestle India, are the top gainers while HDFC Bank, IndusInd Bank, Adani Ports, HDFC, and Axis Bank are the top losers.
  • Nifty Banking and Financial Services stocks sink over 2% while Nifty Metal and Auto stocks decline over 1.7% and 1.2% respectively. Realty stocks trade in the green.
  • Out of 50 stocks traded on the NSE, 6 advanced, and 44 declined. Read More

Nifty IT under pressure; Mphasis, Infosys top laggards

Published on: 2:14 pm

  • The Nifty IT stocks were under pressure amid overall bearish sentiments on Monday. The sector shunned over 175 points to halt the winning streak after quarterly earnings of heavyweights like TCS, Infosys and Wipro had lifted the investor sentiments last week. Corporate earnings and COVID cases remain in the focus. 
  • Larsen & Turbo Infotech and Oracle Financial Services Software Limited traded higher while the rest of the Nifty IT companies dragged the sector. Mphasis led to the losses while Infosys was also under selling pressure.
  • Meanwhile, Sensex and Nifty are trading over 1% lower on Monday following losses in global peers amid concerns over a surge in Delta variant of the coronavirus in Asian countries. At around 2.14 pm, BSE Sensex was trading at 5,756.05 down 167.35 points or 1.05% and Nifty50 at 52,556.38 down 583.68 points or 1.10%. Read more

Kovilpatti Lakshmi Roller Flour Mills hits 52-week high after announcement of expansion projects

Published on: 2:10 pm

  • Kovilpatti Lakshmi Roller Flour Mills Limited has informed that the Board of directors has considered and approved the expansion projects of the Company.
  • The Company plans for installation of 5 MW Solar Power Plantat Gangaikondan, Tirunelveli District on leasehold lands at an estimated cost of Rs30cr for the purpose of captive consumption, which would help the company to reduce its dependence on non-renewable sources of energy.
  • Further, company also decides for  the installation of new flour mill with a capacity of 1,20,000 MT per annum at Gangaikondan, Tirunelveli District at an estimated cost of Rs50cr. Read more

Nifty Bank down over 700 points; HDFC Bank, IndusInd Bank under pressure

Published on: 2:01 pm

  • Equity benchmark indices trading at day’s low in the afternoon session on Monday’s trade amid heavy selling seen in HDFC Bank as it missed quarterly profit expectations, with sentiment further dented by broader Asian peers falling on a renewed coronavirus scare.
  • On the sectoral front, the Nifty Financial Services and Nifty Bank plunged as much as 1.44%.
  • Banking heavyweights such as HDFC twins, ICICI Bank, Kotak Mahindra Bank, Axis Bank, and SBI led the losses and down in the range of 3-1%, respectively. Read more

Spandana Sphoorty Financial approves issuance of NCDs worth Rs290cr

Published on: 1:48 pm

  • Spandana Sphoorty Financial Limited on Saturday approved the issuance of secured non-convertible debentures up to Rs290cr on a private placement basis.
  • “The Management Committee of the Board of Directors of the Company at their meeting held on July 17, 2021, has approved the issuance of Secured Non-Convertible Debentures up to Rs290,00,00,000/- on a private placement basis,” the company said in a filing on Saturday.
  • Earlier the company on July 14, 2021, has approved and allotted 3,000 (Three Thousand) Senior, Rated, Listed, Secured, Redeemable, Principal Protected Market Linked, Non-Convertible Debentures having face value of Rs1 lakh each, at premium, on a private placement basis in demat form, in consideration of an aggregate amount of Rs31,32,84,000/ -. Read More

Aditya Vision hits new high after opening its 70th showroom in Bihar

Published on: 1:30 pm

  • Aditya Vision stock was in the fast lane on Monday after the company has informed to the exchange regarding opening of a new showroom.
  • The company has opened its 70th Showroom named “Aditya Vision. Zip Danapur” at Takiya Par, Near Fire Brigade Office, Danapur, Bihar. 
  • Aditya Vision Limited is engaged into retail business of consumer electronics, home appliances, camera and mobile phones. Read More

Market pulse at 1:30 PM today

Published on: 1:30 pm

  • BSE Sensex is currently 52,577.41 down 562.65 points or 1.06%.
  • Nifty50 is currently 15,763.55 down 159.85 points or 1%. Nifty Bank is trading down 2.07% at 35,010.10 while Mid-cap Index is down by 0.83%.
  • BPCL, Divis Lab, NTPC, Tata Consumer, and Nestle India, are the top gainers while HDFC Bank, IndusInd Bank, HDFC, Axis Bank, and Kotak Bank are the top losers.
  • Nifty Banking and Financial Services stocks sink over 2% while Nifty Auto stocks decline over 1%. Realty stocks and Pharma stocks are trading in the green.
  • Out of 50 stocks traded on the NSE, 10 advanced, and 40 declined. Read More

Infomerics revises credit ratings of India Home Loans; Stock dives 3%

Published on: 1:20 pm

  • India Home Loans Limited has informed that Infomerics ratings has revised the credit ratings of the company.
  • Long term bank loan facilities has  been revised to IVR D and Non-Convertible Debentures worth Rs20cr has been revised to IVR C.
  • According to the Rationale, the revision in ratings takes into account the ongoing delays in servicing of debt obligations since July 2021 beginning. Read more

Nifty Auto sheds over 1%; Ashok Leyland, TVS Motor, Maruti among top losers

Published on: 1:15 pm

  • The Nifty Auto was under selling pressure on Monday tracking overall bearish markets. The Index sank 1.5% with Ashok Leyland dropping nearly 3% and Tube Investments of India down over 2%. Heavyweights TVS Motor CompanyMarutiTata Motors, and Bajaj Auto also shed over 1% to underperform.
  • Sensex and Nifty are trading a percent lower Monday following losses in global peers amid concerns over a surge in Delta variant of the coronavirus in Asian countries. At around 1.15 PM, BSE Sensex was trading at 52,539.46 down 600.6 points or 1.13% and Nifty50 at 15,760.05 down 163.35 points or 1.03%. Read more

Navneet Education subsidiary acquires 13.36% stake in Carveniche Tech for Rs2.67cr

Published on: 12:57 pm

  • Navneet Tech Ventures Private Limited (NTVPL), a Wholly-Owned Subsidiary of Navneet Education Limited has on July 16, 2021, entered into Share Purchase Agreement and thereby agreed to acquire 2,00,480 shares (13.36%) from some of the existing shareholders of Carveniche Technologies Private Limited for a total consideration of over Rs.2.67cr.
  • “Carveniche Technologies Private Limited is an education technology company. The company has a multi-channel, multi-dimension & multidisciplinary logic, analysis focussed Mathematical Thinking program, “beGalileo” which offers live classes, an AI-based learning platform, interactive content, and physical Math & logic boxes for children in the age group of 3-14 years. The company also has a learning app for CBSE students, “ Wisdom Leap” with rich content covering entire CBSE & Indian state board syllabus for all subjects,” the company said in a filing on Saturday.  Read more

NEL Holdings South to exit Melbourne Park project

Published on: 12:56 pm

  • NEL Holdings South Limited has informed that in line with their earlier intimation regarding exit from the residential real estate business and deleveraging the overall debt of the Company, the Company has signed a Business Transfer Agreement with Ramky Estates and Farms Limited (REFL) for exit of Melbourne Park project held with NHDPL South Private Limited (the wholly owned subsidiary of the Company).
  • The Company has also applied to the RERA authority for the transfer of the Melbourne Park project to Ramky Estates and Farms Limited (REFL).
  • Accordingly the corresponding debt associated with the project with the financial institutions and the underlying consumer issues shall get settled. Read more

Rupee drops 24 paise against dollar amid selling in domestic equities market

Published on: 12:49 pm

  • The Indian rupee slipped in the morning trade amid firm American currency and weak domestic equities. At the interbank foreign exchange, the rupee opened at 74.73 against the $, then fell further to 74.80/$, registering a fall of 24 paise over its previous close.
  • On Friday, the local unit saw a marginal 3 paise loss to settle at 74.57 against the US dollar.
  • Meanwhile, the greenback sat near its highest levels in months on Monday as the spread of the Delta coronavirus variant made investors nervous about the global recovery and sent money into safety. Read more

Asian markets slip; European markets set to open lower

Published on: 12:39 pm

  • Asian markets were trading lower after a weak start in the morning trade with the Japanese 'Nikkei which saw a weakness for the 3rd day running as lower bond yields saw pressure on Japanese banks. With profit booking in US technology stocks getting more pronounced Taiwan and South Korean markets also succumbed to profit-booking as semi-conductor producers got hit.
  • The Nikkei 225 in Japan dropped 1.46% while the Topix index shed 1.39% and South Korea’s Kospi fell 0.91% in afternoon trade.
  • In Hong Kong, the Hang Seng index slipped 1.59% by the afternoon. The Shanghai Composite was down about 0.3% while the Shenzhen Component dipped fractionally. Read More

Market pulse at 12:30 PM today

Published on: 12:30 pm

  • Domestic market barometers continue to fall with banking and financial services under extreme selling pressure.  
  • BSE Sensex is currently 52,713.67 down 426.39 points or 0.80%.
  • Nifty50 is currently 15,807.60 down 115.80 points or 0.73%. Nifty Bank is trading down 1.68% at 35,152.95 while Mid-cap Index is down by 0.36%.
  • BPCL, Divis Lab, Nestle India, Tata Consumer, and JSW Steel are the top gainers while HDFC Bank, IndusInd Bank, HDFC, Axis Bank, and ONGC are the top losers.
  • Nifty Banking and Financial Services stocks drag the most while Nifty Auto and IT stocks are also under pressure. Realty stocks soar 1.4% and Pharma stocks are also bullish.
  • Out of 50 stocks traded on the NSE, 16 advanced, and 34 declined. Read More

SBI selects Paisalo Digital for engagement as Corporate Business Correspondent

Published on: 12:28 pm

  • Paisalo Digital Limited has informed that the State Bank of India has selected the Company as National Corporate Business Correspondent of the Bank for financial inclusion by providing banking services through kiosks. In this regard signing of the Service Level Agreement and other formalities shall be done shortly.
  • Under this engagement as Business Correspondent (BC) the Company shall extend its services and its reach to the general public including its customers.
  • It will also help to improve the value and volume and customer experience of the Company's already up and running fully digital small loan business under SBI loan Co-origination with the Bank. Read More

India Ratings affirms Prism Johnson at IND A+/Stable; Stock up 2%

Published on: 12:20 pm

  • India Ratings and Research Pvt. Limited (‘India Ratings’) has on July 16, 2021, affirmed the rating actions for Prism Johnson Limited’s (PJL) financial facilities.
  • The credit rating agency has affirmed Long-Term Issuer rating at IND A+ with a Stable outlook. On NCDs Rs2.89 billion (reduced from Rs3.24 billion) IND A+/Stable rating was affirmed.
  • The ratings on term loans maturing in FY30 Rs10.87 billion (reduced from Rs11.02 billion) IND A+/Stable have also been affirmed. For fund-based limits Rs4.1 billion (increased from Rs4 billion) IND A+/Stable rating was affirmed. Read more

Venus Remedies' promoter releases pledged shares; Stock jumps 2%

Published on: 12:05 pm

  • Venus Remedies Ltd earlier informed to the exchange regarding release of encumbrance on 8,30,000 equity shares of promoters.
  • Now, in furtherance to above, the company has informed that the esteemed shareholders with the said release, the entire shareholding of the promoters & promoter group is now free from all encumbrances.
  • The current market cap of the company is Rs611.87cr. Read more

Nifty Realty surges 1.5% amid bearish markets; Indiabulls jumps 7%

Published on: 11:55 am

  • The Nifty Realty index stretched its winning streak despite bearish markets on Monday. The Index rose nearly 2% on Friday to follow up the gains of previous days and continued momentum to a new week.
  • The realty sector was over 1.5% higher with Indiabulls Real Estate surging 7%, while Prestige Estates Projects and Hemisphere Properties were also bullish. Sobha and Brigade were under selling pressure.
  • The real estate sector is witnessing record registrations in the metro cities.  Demand has picked up as real estate owing to low prices and interest rates are very attractive. Read more

Piyush Goyal expresses confidence that India will play a leadership role in the area of renewable en

Published on: 11:48 am

  • Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution, and Textiles Piyush Goyal addressed the Valedictory Session of the 2nd edition of Aatmanirbhar Bharat- Self-Reliance for Renewable Energy manufacturing”.
  • The Minister said that we are fully confident that India will play a leadership role in the area of renewable energy in the years to come. Dwelling upon the progress made in the country in the area, he said that from the hydro-power in the initial stages, we are already looking at the future & have started engaging in Hydrogen technologies. A Hydrogen Energy Mission in 2021-22 for generating hydrogen from green power sources has been launched. Read  More

Clean Science lists at Rs1755 against IPO price of 900, up by 95% on NSE

Published on: 11:40 am

  • As the Dalal Street on a bearish note, Clean Science and Technology made a solid debut today. The stock got listed at Rs1,784.40 on BSE, a 98.26% premium to its issue price of Rs900.
  • On NSE, the scrip got listed at Rs1,755, up 95%.
  • Clean Science & Technology Ltd is currently trading at Rs1,611.05 up by Rs711.05 or 79.01% from its previous closing of Rs900 on the BSE. The scrip opened at Rs1,784.40 and has touched a high and low of Rs1,784.40 and Rs1,555.05 respectively. Read more

FedEx to invest $100 million in Delhivery to unlock cross-border potential in India

Published on: 11:33 am

  • FedEx Express, a subsidiary of FedEx Corp and the world’s largest express transportation company, and Delhivery, a leading logistics and supply chain services company in India, has announced that FedEx Express India and Delhivery have entered into equity and commercial agreements that will utilize their combined strengths to unlock India’s international trade potential.
  • “India is a strategic priority for FedEx. This strategic alliance will support our long-term vision to grow our India business and serve customers seeking to expand in or enter the Indian market, as well as provide opportunities to develop product and technology solutions together with Delhivery for the benefit of our customers” said Raj Subramaniam, President and Chief Operating Officer of FedEx Corp. Read More

Market pulse at 11:30 AM today

Published on: 11:30 am

  • Indices decline further on Monday as banking and financial services drag. 
  • BSE Sensex is currently 52,746.41 down 393.65 points or 0.74%.
  • The Nifty50 is currently 15,819.40 down 104 points or 0.65%. Nifty Bank is trading down 1.47% at 35,226.10 while Mid-cap Index is down by 0.31%.
  • BPCL, IOC, Divis Lab, NTPC and Larsen & Turbo are the top gainers while HDFC Bank, HDFC, IndusInd Bank, Maruti, and Axis Bank are the top losers.
  • Nifty Banking and Financial Services stocks drag the most while Nifty Realty stocks soar 1.4%. Pharma and Media stocks also log modest gains.
  • Out of 50 stocks traded on the NSE, 20 advanced, 29 declined and 1 unchanged. Read More

Nifty Pharma logs modest gains despite bearish markets; Alkem, Divis Labs, Biocon add to gains

Published on: 11:20 am

  • The Nifty Pharma was trading higher despite weak market global cues on Monday. The Index after a bearish start pares early losses to convert a gloomy start into substantial gains.
  • The gains in the index were limited due to steep selling pressure in heavyweights Lupin and Torrent Pharma. Alkem, Divis Labs led the gains while, Sun PharmaAurobindo Pharma and other scrips were under pressure.
  • During early trading deals, at around 11:20 AM, the Nifty Pharma was trading at 14,700.30 up 65.25 points or 0.45%, touching a high of 14,707 and low of 14,549.85 during intraday trade on Monday. Read more

Bank of Maharashtra raises Rs403.70cr through QIP issue; Stock trades flat

Published on: 11:15 am

  • Bank of Maharashtra (BoM) has raised Rs403.70cr through via qualified institutions placement (QIP) issue of equity shares.
  • The Bank’s issue committee on July 17, 2021, approved the allotment of over Rs17.03cr equity shares of the face value of Rs10 to eligible qualified institutional buyers (QIB) at the issue price of Rs23.70 per equity share (including a premium of Rs13.70 per equity share) against the floor price of Rs24.89 per share, aggregating to Rs403.70cr.
  • The issue opened on July 13, 2021, and closed on July 16, 2021. Read more

GR Infraprojects makes strong debut; stock lists at 105% premium over issue price

Published on: 11:12 am

  • GR Infraprojects (GRIL) made a strong market debut on the stock exchanges today. The scrip got listed at Rs1,715.85 on the NSE, a 105% premium to its issue price of Rs837. On BSE, the scrip got listed at Rs1,700, up 103.11%.
  • Soon after listing, it hit a high of 1,734.60 apiece, surging 107.2% from the issue price.
  • G R Infraprojects Ltd is currently trading at Rs1,697.05, up by Rs860.05 or 102.75% from its previous closing of Rs837 on the BSE. The scrip opened at Rs1,700 and has touched a high and low of Rs1,734.60 and Rs1,550 respectively. Read more

Mahindra Holidays resumes operations at majority of its Resorts

Published on: 11:05 am

  • Mahindra Holidays & Resorts India Limited informed the exchanges on Sunday that the company has recommenced its Resorts operations starting from June 2021 onwards in a staggered manner and currently, the majority of its Resorts are operational.
  • The material subsidiary of the Company, Holiday Club Resorts Oy, Finland has also recommenced its operations of the SPA hotels starting from June 2021.
  • The company’s operations had been affected since March 8, 2021, due to the second wave of Covid-19. Read More

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